Romarco Files NI 43-101 Report on Feasibility Study for Haile

  ROMARCO MINERALS INC. (TSX VENTURE: R) (the "Company") is pleased to announce that it has filed a National Instrument 43-101 Technical Report covering the Feasibility Study for the Haile Gold Mine Project (see press release dated February 3, 2009). Gustavson Associates, LLC of Lakewood, CO was responsible for completing the Feasibility Study. The Feasibility Study was based on drilling data through October 2008. The Company is in the process of updating its resource estimate with drilling through January 2009. The revised estimate is expected to be announced before the end of March 2009. All figures are in US Dollars.

Key aspects of the Technical Report include:

Results of the Financial Model

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                             $750.00 / troy oz           $900.00 / troy oz
Gold Price                     (planning price)            (current market)
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NPV undiscounted                  $250 million                $361 million
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NPV @ 5%                          $161 million                $248 million
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IRR                                       24.3%                       33.7%
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- Average annual production of 128,000 ounces of gold and 289,000 ounces of silver

- Cash operating costs of $266 per ounce

- Total production costs of $450 per ounce (capital, bonding, taxes, DDA)

- 1.3 million ounces of gold in mineral reserves

- Capital Costs of $153 million

The mineral resource increase is due to the inclusion of 6 new holes drilled in the Ledbetter area. These holes; DDH0318 to DDH0322 and DDH0327 expanded the resource by approximately 200,000 ounces. A comparison of the estimate with data thru July and thru October is shown below.

Haile Gold Mine Project
Lancaster County, SC
Estimated Mineral Resource

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                        Resource Estimate                         Resource
                   - data through July 08   Estimate - data through Oct 08
                                                                       Inc-
                                      Con-                    Con-   rease
                            Gold   tained           Gold   tained     from
Measured           Tonnes  Grade     Gold  Tonnes  Grade     Gold     July
 Cutoff (oz/ton)   (000's) (gm/t) (000 oz) (000's) (gm/t) (000 oz) (000 oz)
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0.010 oz/t         12,264  1.708      673  12,588  1.737      703       30
 (0.343 g/t)
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0.015 oz/t          9,670  2.052      638   9,973  2.082      668       30
 (0.514 g/t)
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0.020 oz/t          8,076  2.341      608   8,376  2.367      637       29
 (0.686 g/t)
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Indicated
 Cutoff (oz/ton)
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0.010 oz/t         22,698  1.136      829  26,158  1.216     1022      193
 (0.343 g/t)
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0.015 oz/t         16,106  1.428      740  18,616  1.537      920      180
 (0.514 g/t)
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0.020 oz/t         11,905  1.723      660  13,814  1.866      829      169
 (0.686 g/t)
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Meas + Indic
 Cutoff (oz/ton)
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0.010 oz/t         34,961  1.336     1502  38,746  1.385     1725      223
 (0.343 g/t)
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0.015 oz/t         25,776  1.662     1378  28,588  1.727     1588      210
 (0.514 g/t)
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0.020 oz/t         19,981  1.973     1267  22,191  2.055     1466      199
 (0.686 g/t)
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Inferred
 Cutoff (oz/ton)
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0.010 oz/t         26,148  0.807      679  27,547  0.858      760       81
 (0.343 g/t)
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0.015 oz/t         16,199  1.045      544  16,877  1.136      616       72
 (0.514 g/t)
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0.020 oz/t         10,674  1.279      439  11,232  1.409      509       70
 (0.686 g/t)
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The Feasibility Study converts 88% of the measured and indicated mineral resource to proven and probable mineable reserves. As the February 5th press release states, the mineable reserve now contains 7.8 million tonnes at 2.24 g/t in proven and probable categories. The table below shows the mineable reserve at 0.015 opt (0.514 g/t) and 0.020 opt (0.686 g/t) cutoffs.

Haile Project
Lancaster County, SC
Estimated Mineable Reserve

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                                                       Gold
                                       Tonnes         Grade      Contained
Proven Reserve                         (000's)         (g/t)  Gold (000 oz)
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0.015 oz/t (0.514 g/t)                  8,338          2.28            610
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0.020 oz/t (0.686 g/t)                  7,282          2.52            590
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Probable Reserve
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0.015 oz/t (0.514 g/t)                 12,290          1.84            729
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0.020 oz/t (0.686 g/t)                 10,529          2.05            695
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Proven and Probable Reserve
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0.015 oz/t (0.514 g/t)                 20,621          2.02          1,338
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0.020 oz/t (0.686 g/t)                 17,811          2.24          1,285
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Inferred Resource within Designed Pit
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0.015 oz/t (0.514 g/t)                  4,883          1.36            214
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0.020 oz/t (0.686 g/t)                  3,912          1.55            195
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"We are extremely pleased with the continuing growth of the Haile Gold Mine. The Company is in the process of modeling the drill data from October '08 to January '09 which is comprised of an additional 15 holes. A new resource update reflecting that information will be available prior to the end of March 2009. While an aggressive exploration program continues at Haile, Romarco is moving the project to a development phase that includes definitive metallurgical testing, permitting, process design refinement, and updating the capital and operating cost estimates with the intent to move the project into the detail design stage by this summer. Romarco has been diligently working to create a significant gold mine," stated Diane Garrett, President and CEO.

The resource calculations were completed by Gustavson Associates, LLC of Boulder, Colorado under the direction of Mr. William Crowl, VP; Mr. Donald E. Hulse, PE and Ms. Terre Lane, independent Qualified Persons. Romarco's Qualified Persons for the Haile Gold Mine are Tom Kilbey, the Company's Senior Geologist, and Ken Brunk, Sr. VP COO.

Romarco Relinquishes Interest in Pine Grove Property

In addition, Romarco announces that it has entered into an agreement to terminate its obligations under an agreement originally signed with Toquima Minerals Corporation in respect of its Pine Grove Property. The Company has undertaken an extensive drilling program over the past four years on the property, and has agreed to make a cash payment in the amount of approximately $300,000 (inclusive of previously posted bonds which will be assigned by Romarco) in satisfaction of any further obligations under the agreement. The decision not to pursue any further work on this project was made as part of the Company's desire to focus on the development of the Haile Gold Mine and its Pinos Gold District in Mexico.

About Romarco

Romarco Minerals Inc. is a gold development company focused on production in the US and Mexico. The Company's flagship project is the Haile Gold Mine in South Carolina which is currently undergoing exploration drilling, development planning and permitting. The Pinos Gold District in Mexico is a high grade epithermal vein district in the advanced exploration stage.

ON BEHALF OF ROMARCO MINERALS INC.

Diane R. Garrett, President and C.E.O.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this press release.

Contacts: Romarco Minerals Inc. Diane Garrett President and C.E.O. [phone] Email: [e-mail] Romarco Minerals Inc. Shirene Urton Executive Assistant [phone] [phone] (FAX) Email: [e-mail] Website: www.romarco.com